AbCellera Biologics Inc. $ABCL Stock Holdings Cut by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its stake in AbCellera Biologics Inc. (NASDAQ:ABCL) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,222,005 shares of the company’s stock after selling 346,144 shares during the period. TD Waterhouse Canada Inc.’s holdings in AbCellera Biologics were worth $128,281,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in AbCellera Biologics in the second quarter valued at approximately $48,211,000. BlackRock Inc. bought a new stake in shares of AbCellera Biologics during the second quarter worth $29,872,000. Headlands Technologies LLC grew its stake in shares of AbCellera Biologics by 34.8% during the second quarter. Headlands Technologies LLC now owns 246,252 shares of the company’s stock worth $1,933,000 after buying an additional 63,596 shares during the last quarter. Man Group plc acquired a new position in shares of AbCellera Biologics during the second quarter worth $1,797,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of AbCellera Biologics during the second quarter worth $1,663,000. Institutional investors own 61.42% of the company’s stock.

AbCellera Biologics Price Performance

NASDAQ ABCL traded down $0.88 during trading hours on Friday, reaching $11.80. The company’s stock had a trading volume of 4,101,192 shares, compared to its average volume of 5,480,116. The firm has a fifty day simple moving average of $12.01 and a 200-day simple moving average of $7.66. The stock has a market cap of $3.62 billion, a P/E ratio of -21.85 and a beta of 1.41. AbCellera Biologics Inc. has a 52 week low of $2.74 and a 52 week high of $15.02.

AbCellera Biologics (NASDAQ:ABCL) last posted its earnings results on Wednesday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.02). AbCellera Biologics had a negative return on equity of 17.49% and a negative net margin of 248.83%. The business had revenue of $4.05 million for the quarter, compared to analyst estimates of $7.85 million. On average, research analysts expect that AbCellera Biologics Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

ABCL has been the subject of a number of research reports. Truist Financial increased their price target on AbCellera Biologics from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. The Goldman Sachs Group started coverage on AbCellera Biologics in a report on Thursday, September 24th. They set a “neutral” rating and a $13.00 price objective on the stock. Cantor Fitzgerald boosted their price objective on AbCellera Biologics from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. UBS Group assumed coverage on AbCellera Biologics in a research report on Monday, October 12th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Wall Street Zen cut AbCellera Biologics from a “hold” rating to a “sell” rating in a report on Saturday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.89.

AbCellera Biologics Profile

AbCellera Biologics Inc is a biotechnology company that develops technologies for the discovery and development of antibody medicines. Its platform combines high-throughput screening, single-cell analysis, microfluidics, data science and machine learning to identify antibodies with potential therapeutic applications.

The company works with pharmaceutical and biotechnology partners worldwide, helping them discover and advance antibody candidates for areas such as cancer, infectious diseases, autoimmune disorders and other medical conditions.